Google parent Alphabet Inc. has announced financial results for the first quarter of 2018. The company reported $31.1 billion in quarterly revenue, which was down sequentially but up year over year. Revenues beat Wall Street consensus estimates by about $870 million, and earnings also beat analyst expectations.
Revenue growth year over year was 26 percent vs. 24 percent in Q1 2017. The following chart shows the breakdown in revenues, with $26.6 billion attributed to advertising and $4.35 billion tied to “other revenues,” including hardware and Google Home. Other bets’ operating losses narrowed from $703 million to $571 million.
Traffic acquisition costs were 24 percent of ad revenues, or $6.3 billion. Aggregate paid clicks were up 59 percent year over year and 8 percent sequentially. CPCs were down 19 percent and 7 percent, respectively. The growth in paid clicks is probably partly attributable to mobile ads in search results.
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